Benefit Triggers Comparision

Life Insurance vs. Living Benefits Life Insurance

LIFE INSURANCE – (2 TRIGGERS)

Old Style

  • Death – Pays a death benefit
  • Terminal illness – Pays a benefit in the event of a terminal illness (Available on some life insurance policies)

LIVING BENEFITS LIFE INSURANCE – (21 TRIGGERS)

New Style

  • Death – Pays a death benefit
  • Terminal illness – Pays a benefit in the event of a terminal illness
  • Chronic illness – Pays a benefit if the insure can’t perform 2 or 6 activities of daily living. A great alternative for long-term care
    1. 1. Eating
    2. 2. Bathing
    3. 3. Dressing
    4. 4. Transferring
    5. 5. Continence
    6. 6. Toileting
  • Critical illness – What conditions qualify?
    1. 1. ALS (Lou Gehrig’s disease)
    2. 2. Aorta Graft Surgery
    3. 3. Aplastic Anemia
    4. 4. Blindness
    5. 5. Cancer
    6. 6. Cystic Fibrosis
    7. 7. End Stage Renal Failure
    8. 8. Heart Attack
    9. 9. Heart Valve Replacement
    10. 10. Major Organ Transplant
    11. 11. Motor Neuron Disease
    12. 12. Stroke
    13. 13. Sudden Cardiac Arrest
  • Critical Injury – Includes:
    1. 1. Coma
    2. 2. Paralysis
    3. 3. Severe Burns
    4. 4. Traumatic Brain Injury